Property consultants ESPC have announced the results from their July 2022 property price report for Edinburgh - and the cost of homes is continuing to soar.
But where in Edinburgh are house prices rising the most?
According to ESPC's latest data, in Edinburgh city centre, the average property selling prices rose 6.5% to £312,086.
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Following a period of high demand for properties in the past year, two-bedroom flats and three-bedroom houses continue to be particularly popular with Edinburgh buyers. ESPC said: "While they are showing slight signs of slowing compared to earlier quarters as the market returns to more ‘normal’ levels after the pandemic."
Two-bedroom flats in Edinburgh’s New Town and West End areas sold for £468,181, a 0.8% annual rise, this was followed by Morningside and Merchiston where two-bedroom flats sold for an average of £383,970 – an increase of 17.6%.
In Leith, one-bedroom flats sold for an average £228,559, an increase of a whopping 43.5%.
Meanwhile, other areas are starting to see a 'cool off' in soaring prices, with ESPC saying: "In previous quarters there was high demand for three-bedroom houses in Cramond, Barnton and Cammo but we are seeing signs this is starting to cool off as the average price is now at £377,884, a decline of 5.2% annually."
Edinburgh has continued to be a desirable place to live, with buyers paying 108.9% over Home Report value, a rise of 3.9% annually.
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